New IndiaFirst Life Insurance plan: Get protection for 12 or 15 years by paying for just 5 or 7 years

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October 18, 2021 4:55 PM

IndiaFirst Life Insurance Company Limited has introduced IndiaFirst Life Saral Bachat Bima Plan to provide savings and protection cover for the entire family.

life insuranceLife insurance is a contract wherein the terms and conditions remain fixed, including the premium due date and policy renewal dates.

IndiaFirst Life Insurance Company Limited has introduced IndiaFirst Life Saral Bachat Bima Plan to provide savings and protection cover for the entire family. It is a non-linked, non-participating, individual, limited premium policy that provides a shorter pay commitment of five or seven years while keeping the insured and his/her entire family protected for 12 or 15 years.

IndiaFirst Life Saral Bachat Bima Plan aims to secure the policyholder’s family’s future in case of an unfortunate event. The plan also offers yearly guaranteed additions, an additional accidental death benefit in the first year, funeral cover along with no medical tests, and quick processing all under one roof.

The plan provides Sum Assured on Maturity plus accrued guaranteed additions on the date of maturity. Tax benefits can be availed as per prevailing Income Tax Laws.

Commenting on the launch of the plan, Rushabh Gandhi, Deputy CEO, IndiaFirst Life Insurance Company Limited said, “In line with our Customer First ideology, we are delighted to launch IndiaFirst Life Saral Bachat Bima Plan. This bespoke simplified product offers the dual benefits of protection and savings. It is primarily designed for customers of the Regional Rural Banks (RRBs) and rural branches who prefer simple and easy to comprehend products that can be availed through a “Saral” hassle-free process.”

IndiaFirst Life Insurance is promoted by Bank of Baroda and Union Bank of India.

Sanjeev Dobhal, CGM – Rural & Agri Banking, FI, RRB & RSETI, Bank of Baroda, said, “I’m delighted that our partner IndiaFirst Life has created a hyper-personalized and easy to understand product that caters to the specific need of our rural / RRB customers. They can buy the product through a simplified OTC process, which takes care of their safety, security, and monetary needs. I’m confident that through IndiaFirst Life Saral Bachat Bima Plan, the RRB business will grow exponentially.”

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